Atlanta, March 16, 2011 — REPAY – Realtime Electronic Payments – one of Atlanta’s fastest-growing financial services companies, has acquired the merchant card portfolio and related assets of Chicago-based National Translink Corp.
The acquisition added another 1,450 merchants to REPAY’s existing network of 5,000 merchant locations. Through its balanced growth strategy of buy, build and develop, REPAY has established a growth rate of more than 2,000 percent over the past 12 months. This growth was fueled in part by last year’s acquisition of the merchant card portfolio and related assets of Chattanooga-based TBT PAS, Inc.
Founded in 2006, REPAY is a full-service provider of electronic transaction processing services for retail merchants, offering customized solutions for credit and debit cards, gift cards, ACH, electronic check conversion, bank account verification and other gateway applications. REPAY now has offices in Atlanta, Chattanooga and Chicago processing more than $225 million in transaction volume. Taking into account the two acquisitions, REPAY posted 2010 pro forma revenues of $9.5 million.
Shaler Alias, president of REPAY, said the latest acquisition will strengthen the REPAY portfolio and diversify the company client base both geographically and industry-wide in the digital transaction market.
“With our ongoing dedication to creating customized solutions for the retail market, REPAY has established its staying power in the financial services industry,” Alias said. “We listen to the people we’re selling to and we give them what they need to keep up with a dynamic economic climate.”
Alias added, “We are very excited about some of the purchase opportunities that we are evaluating in the marketplace. We are seeing very attractive valuations for select asset purchases.”
The REPAY network includes relationships with TSYS, Cardworks Processing and Merrick Bank of Long Island, N.Y.
Source: Company press release.
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